REG - Thor Explorations Ld - FURTHER POSITIVE DRILL RESULTS AT GUITRY

Thor ExplorationsAnnouncement

27/08/2025 07:00

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RNS Number : 7645W  Thor Explorations Ltd  27 August 2025

 

 

 

 

NEWS RELEASE

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR

DISTRIBUTION TO U.S. WIRE SERVICES

 

 

 August 27, 2025              TSXV/AIM: THX

 Vancouver, British Columbia

 

 

FURTHER POSITIVE DRILL RESULTS AT THE GUITRY PROJECT IN CÔTE D'IVOIRE

 

Thor Explorations Ltd. ("Thor" or the "Company") is pleased to announce
further positive drilling results from its maiden drilling campaign at its
100% owned Guitry Gold Project ("Guitry") in Côte d'Ivoire.

 

During May and June 2025, Thor completed an initial 3,000 metre ("m") reverse
circulation (RC) drilling program at Guitry, with the objective of gaining a
better understanding of both the geometry and geological controls on gold
mineralisation based on a new interpretation of the historic drilling results.

 

Further to the maiden drill results, announced on 22 July 2025
(https://thorexpl.com/site/assets/files/2888/guitry_drilling_july2025_final_002.pdf)
, additional assay results received include the following highlights:

 

·      Drillhole GURC25-232 - 8m at 14.54 grammes per tonne ("g/t") of
gold ("Au") from 114m

·      Drillhole GURC25-234 - 4m at 10.68 g/t Au from 81m

·      Drillhole GURC25-212 - 7m at 5.31 g/t Au from 155m

 

Segun Lawson, President & CEO, stated:

"We are extremely pleased to report further positive drilling results from our
maiden drilling campaign in Côte d'Ivoire. Our drilling has continued to
successfully intersect high grade mineralisation at depth at Guitry, which
prior to our ownership, was characterised by numerous gold-in-soil geochemical
anomalies that had only been partially drill tested with shallow drilling.

"We are encouraged by the progress at Guitry where the maiden drilling program
shows mineralisation remains open at depth and there remains a significant
amount of soil anomalism in the licence that remains untested.

"We look forward to returning later this quarter following the rainy season to
continue the next phase of drilling and working towards our target of a maiden
resource in Côte d'Ivoire before the end of the year.

"As a country, Côte d'Ivoire is a West African gold mining and exploration
success story that hosts over 30% of West Africa's greenstone belts and is
proving to be an emerging region for world class gold discoveries. Part of our
exploration program in the country this year includes a maiden drilling
program at our Marahui Project which has been designed based on highly
encouraging initial exploration results."

 

Introduction

The Guitry Project was acquired by Thor from Endeavour Mining Corporation
("Endeavour") during 2025 for a total consideration of US$100,000 in cash and
a 2% Net Smelter Royalty. The Project is located 220 kilometres ("km") due
west from Abidjan and covers 295 square kilometres ("km(2)") of prospective
Tehini (Birimian) Greenstone Belt comprising a north-easterly trending
sequence of greywacke sediments and volcano-sedimentary schists and andesite
with later granitic intrusive located to the north. The Tehini Greenstone Belt
extends northwards into Burkina Faso where it hosts large gold deposits such
as Hounde (5.2 million ounces ("Moz")) and Mana (2.3Moz). Early-stage
exploration at Guitry completed by Endeavour Mining includes 7,672 soil
samples and over 11,000m of drilling (Figure 1).

 

 

 

Figure 1: Guitry Gold Project Location Map

 

Two main prospects were defined by soil geochemistry: Krakouadiokro and
Gbaloukro. A broad gold in soil anomaly extends over a 8.5km north easterly
trending zone with a continuous 5km long anomaly at Krakouadiokro (Figure 2).
Follow up drilling at Krakouadiokro produced several significant drill
intersections from a relatively small area of drilling. However, insufficient
information was obtained regarding the geometry and extents of the primary
gold mineralisation. Mineralisation appears to be open along strike to the
southwest and northeast and down dip at the two main prospects.

 

Drilling Results

Historically, most of the drilling intersected gold mineralisation in a
near-surface flat-lying supergene horizon. Only limited drilling of the
primary mineralisation at Krakouadiokro was carried out. The current program
was designed, based on a new interpretation of the orientation of what is
understood to be several parallel mineralised lodes.

 

Since May 2025, Thor completed an initial reverse circulation (RC) drilling
program of approximately 3,000m. All holes were oriented at an azimuth of
225(o) at a dip of 55 (o).

 

Industry standard QAQC protocols were followed, and drill samples were
collected, stored and transported under secure conditions. Drill samples were
analysed by SGS Laboratories in Yamoussoukro using the FAA505 fire assay
method (50 gram charge). The significant intersections from this program are
listed in Table 1.

 

 

 

 

 

 

Figure 2: Guitry Soil Geochemical Map

 

The current drilling area is located on the crest of a laterite-capped hill
which overlies a north-east striking sequence of pelitic sedimentary
(greywacke) rocks. These rocks are strongly weathered to a depth of about 30m
from surface before transitioning into fresh bedrock. Primary gold
mineralisation is developed within moderately to steep north-dipping zones in
the south-west part of the drilling area. Towards the north-east the
mineralised zones appear to be sub-vertical (Figure 4).

 

 

 Hole ID     Easting  Northing   RL   Depth  Dip  Azi-    muth     From     (m)      To    (m)     Interval    (m)     Grade (g/t Au)  True Width (m)
 GURC25-229  240496   605289     244  114    -55  230              0                 17            17                  2.16            16.0
 GURC25-229                                                        85                87            2                   2.24            1.9
 GURC25-230  240573   605381     250  156    -55  230              34                38            4                   2.47            3.8
 GURC25-230                                                        42                46            4                   2.44            3.8
 GURC25-231  240565   605358     251  160    -55  230              24                29            5                   1.91            4.7
 GURC25-231                                                        143               149           6                   3.13            5.5
 GURC25-232  240599   605321     252  144    -55  230              114               122           8                   14.54           7.5
 GURC25-233  240614   605341     252  120    -55  230              28                30            2                   5.97            1.9
 GURC25-233                                                        115               122           7                   5.31            6.5
 GURC25-234  240647   605433     243  150    -55  230              81                85            4                   10.68           3.7
 GURC25-235  240443   605385     243  144    -55  230              11                16            5                   1.16            4.7
 GURC25-237  240478   605348.2   245  126    -55  230              38                40            2                   1.68            1.9
 GURC25-238  240511   605449.39  239  90     -55  230              7                 14            7                   0.47            6.6

 

Table 1: Guitry Gold Project Significant Drilling Intersections

(>3 gram-metres, 0.3 g/t Au cut off, Minimum Interval 3m, Maximum Internal
Waste 3m, all holes reported)

 

 

 

Figure 3: Guitry Drillhole Location Map

 

Numerous high gold grades have been intersected in the primary zone over a
400m by 300m area. In the Southern Zone intersections that were reported
previously such as 7m at 7.71 g/t  Au in GURC25-227 and 5m at 12.65 g/t Au in
GURC25-228 indicate that grades appear to increase at depth with most of the
grades exceeding 5 g/t Au being located in the fresh bedrock (Figure 4). In
the current batch of results 8m grading 14.84 g/t Au from 118m was intersected
in drillhole GURC25-232 in the previously untested Central Zone (Figure 3,4).
Drillhole GURC25-233 intersected 7m grading 5.31 g/t Au about 30m to the
northeast of GURC25-232.

 

In addition to the significant grades that were intersected in the deeper
primary zone, the near-surface lateritic mineralisation returned 17m grading
2.16 g/t Au in drillhole GURC25-229 which is located in the Central Zone
(Figure 3).

 

Additional drilling is required to fully define the mineralisation in the
Central Zone where assays are still pending. Assays are pending for several
other holes including GURC25-232 and GURC25-233 which targeted this zone
further to the east.

 

The Northern Zone is characterised by several narrow mineralised structures
including 2m grading 16.9 g/t Au which was intersected in drillhole GURC25-224
(Figure 4). Further drilling is planned to obtain a better understanding of
the stockwork-like nature geometry of mineralisation.

 

 

 

 

 

Figure 4: Guitry Cross Sections

Next Steps

·      At the Krakouadiokro Prospect, further systematic resource
drilling is warranted. This drilling would comprise both infill and step-out
drilling to both upgrade and extend the resource respectively.

 

·      Drilling of the numerous geochemical anomalies at both the
Krakouadiokro and Gbaloukro Prospects that have, to date, been either untested
or partially tested.

 

·      Generative geochemical surveys along the north-east and to the
south-west strike extents of the Krakouadiokro and Gbaloukro Prospects. These
areas, which total approximately 10km of prospective strike, have either been
partially sampled on 800m spaced lines or not sampled at all.

 

 

Qualified Person
The above information has been prepared under the supervision of Alfred
Gillman (Fellow AusIMM, CP), who is designated as a "qualified person" under
National Instrument 43-101 and the AIM Rules and has reviewed and approves the
content of this news release. He has also reviewed QA/QC, sampling, analytical
and test data underlying the information.

 

Further details can be found on the Company's website: www.thorexpl.com
(http://www.thorexpl.com)

 

 

 

About Thor Explorations

 

Thor Explorations Ltd. is a mineral exploration company engaged in the
acquisition, exploration, development and production of mineral properties
located in Nigeria, Senegal and Côte d'Ivoire Thor Explorations holds a 100%
interest in the Segilola Gold Project located in Osun State, Nigeria and has a
70% economic interest in the Douta Gold Project located in south-eastern
Senegal. Thor Explorations trades on AIM and the TSX Venture Exchange under
the symbol "THX".

 

THOR EXPLORATIONS LTD.

Segun Lawson

President & CEO

 

For further information please contact:

 

    Thor Explorations Ltd

    Information : Email: info@thorexpl.com (mailto:info@thorexpl.com)

    Investor Relations: Email: investor.relations@thorexpl.com
(mailto:investor.relations@thorexpl.com)

 

    Canaccord Genuity (Nominated Adviser & Broker)

    James Asensio / Henry Fitzgerald-O'Connor / Harry Rees

    Tel: +44 (0) 20 7523 8000

 

    Hannam & Partners (Broker)

    Andrew Chubb / Matt Hasson / Jay Ashfield / Franck Nganou

    Tel: +44 (0) 20 7907 8500

 

    BlytheRay (Financial PR)

Tim Blythe / Megan Ray / Said Izagaren

Tel: +44 207 138 3203

 

    Yellow Jersey PR (Financial
PR)

Charles Goodwin / Shivantha Thambirajah

    Tel:  +44 (0) 20 3004 9512

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 1

Guitry Drilling Results

(>3 gram-metres, 0.3g/tAu cut off, Minimum Interval 3m, Maximum Internal
Waste 3m)

 

 

 

 Hole ID     Easting  Northing   RL   Depth  Dip  Azi-    muth     From     (m)      To    (m)     Interval    (m)     Grade (g/tAu)  True Width (m)
 GURC25-229  240496   605289     244  114    -55  230              0                 17            17                  2.16           16.0
 GURC25-229                                                        85                87            2                   2.24           1.9
 GURC25-229                                                        93                95            2                   1.66           1.9
 GURC25-230  240573   605381     250  156    -55  230              7                 10            3                   0.42           2.9
 GURC25-230                                                        34                38            4                   2.47           3.8
 GURC25-230                                                        42                46            4                   2.44           3.8
 GURC25-230                                                        54                59            5                   0.53           4.8
 GURC25-231  240565   605358     251  160    -55  230              2                 9             7                   0.31           6.6
 GURC25-231                                                        24                29            5                   1.91           4.7
 GURC25-231                                                        143               149           6                   3.13           5.5
 GURC25-232  240599   605321     252  144    -55  230              12                14            2                   0.69           1.9
 GURC25-232                                                        114               122           8                   14.54          7.5
 GURC25-233  240614   605341     252  120    -55  230              28                30            2                   5.97           1.9
 GURC25-233                                                        78                80            2                   0.42           1.9
 GURC25-233                                                        115               122           7                   5.31           6.5
 GURC25-234  240647   605433     243  150    -55  230              25                27            2                   0.41           1.9
 GURC25-234                                                        81                85            4                   10.68          3.7
 GURC25-234                                                        106               108           2                   1.74           1.9
 GURC25-235  240443   605385     243  144    -55  230              1                 6             5                   0.57           4.7
 GURC25-235                                                        11                16            5                   1.16           4.7
 GURC25-235                                                        105               108           3                   0.68           2.8
 GURC25-236  240460   605326.89  238  132    -55  230              0                 5             5                   0.61           4.7
 GURC25-236                                                        31                35            4                   0.34           3.8
 GURC25-237  240478   605348.2   245  126    -55  230              2                 4             2                   0.39           1.9
 GURC25-237                                                        38                40            2                   1.68           1.9
 GURC25-238  240511   605449.39  239  90     -55  230              7                 14            7                   0.47           6.6
 GURC25-238                                                        51                53            2                   0.89           1.9

 

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